Letter of Intent to License Technology

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This Letter of Intent to License Technology will effectively set forth an agreement to license technology. This attorney-prepared form contains the terms including specific technology to be licensed, fee paid for the license and date of the transaction closing.

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This Letter of Intent to License Technology sets forth two or more parties intent to agree to a license for technology. This intent letter sets forth the specific technology to be licensed and the fee paid for this license. It also sets forth the territory in which the technology may be used, closing date of this transaction and any documentation which must be signed prior to closing. It is vital that this letter of intent be clearly set forth in writing. A written Letter of Intent to License Technology will prove invaluable in the event there are questions or concerns surrounding the license of the technology.

This Letter of Intent to License Technology contains the following:
  • Parties: Sets forth the parties to this intent letter;
  • Purpose: This letter summarizes discussions and agreements between the parties regarding the technology license and will act as a permanent agreement until superseded by a formal written agreement;
  • Financial/Contractual Terms: Sets forth the license fee to be paid upon agreement execution, payment of any future fees for patents and additional fees to be invested for further research and development;
  • Closing Conditions: Conditions which must be met prior to closing including execution of a license agreement, research agreement and financing and investment arrangements;
  • Term/Termination: Sets forth the initial term of the arrangement, how this agreement can be renewed and procedures for termination;
  • Signatures: All parties must sign this letter of intent.

Protect yourself and your rights by purchasing this attorney-prepared form.

This attorney-prepared package includes:
  1. General Information
  2. Instructions and Checklist
  3. Letter of Intent to License Technology
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.














Letter of Intent to License Technology












This Packet Includes:
1.  General Information
2.  Instructions and Checklist
3.  Letter of Intent to License Technology











General Information
Letter of Intent to License Technology

This Letter of Intent to License Technology sets forth an agreement between two parties who agree to license technology.  This letter sets forth the specific technology to be licensed and the fee paid for the license.  It also sets forth the any territory restrictions, transaction closing date and any documentation which must be signed prior to closing.  

It is vital that this intent letter be succinctly set forth in writing.  A written Letter of Intent to License Technology will prove invaluable in the event there are questions or concerns by either party in reference to the license of the technology.  


  



Instructions and Checklist


Letter of Intent to License Technology

   Both parties should read the document carefully.

   Insert all requested information in the spaces provided on the form.

     The parties should read the "Financial and Contractual Terms" provision carefully.  If there are disagreements, they will likely focus on this provision.  If any of the terms are ambiguous, set forth specific examples to clear up any ambiguity.

     This form contains the basic terms and language that should be included in similar agreements.  

     Both parties must sign this letter of intent.

   Both parties should retain either an original or copy of the signed letter.

   All legal documents should be kept in a safe location such as a fireproof safe or safe deposit box.  



   





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice. The use of these materials is not a substitute for legal advice. Only an attorney can provide legal advice.  An attorney should be consulted for all serious legal matters.  No Attorney-Client relationship is created by use of these materials.  
THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 

LETTER OF INTENT TO LICENSE TECHNOLOGY

DATE:
NAME:
ADDRESS:

Dear_____________,

This letter serves as a formal agreement and  Letter  of Intent by and between ABC Inc., hereinafter  "ABC" and XYZ Corp., hereinafter "XYZ".  

The purpose of this Letter of Intent is to summarize the agreements between the parties and will have the effects of a formal agreement and work as a permanent agreement until superseded by another written agreement.  

The  contents  of this  Letter  of  Intent  are  the  product  of  previous discussions among the parties.

Objective: ABC will license its Technology to XYZ, including all pending or issued patent rights, technical knowhow, and rights to inventions made by ABC for which patents have not yet been filed. XYZ will have the right to sublicense such rights. XYZ will sponsor research at ABC to further the development of the Technology. XYZ may offer some, but not all, of the inventors the opportunity to serve on a scientific advisory board for the technology and may offer at various times consulting contracts to further its business interests.

Territory:  To be mutually agreed between the parties in writing.

Financial and Contractual Terms:
a.   XYZ will pay ABC an upfront license fee of $___ upon execution of a license agreement.
b.   XYZ will pay all future patent expenses, including filing, prosecution, and enforcement expenses.
c.   The license will terminate on a country by country basis upon the expiration date of the last to expire patent in that country.
d.   XYZ will sponsor a research and development program at ABC for an amount, including indirect costs, not to exceed $______.
e.   XYZ shall invest an additional $____ in research and development, administrative and business development of the XYZ.
f.   XYZ will pay ABC a royalty on sales of products or services covered by ABC patent rights.

Closing Conditions  Closing of the transaction contemplated in this LOI is subject to: (a) the execution of a definitive license agreement and sponsored research agreement, satisfactory in form and substance to ABC and XYZ; and (b) consummation by XYZ of the financing necessary for completion of the transaction;

Term and Termination:
a.   The initial term of the agreement shall run from ____________ through __________. Unless otherwise terminated pursuant to the terms hereof, the agreement shall automatically renew for additional ___-year periods.
b.   Either party, ABC or XYZ, may terminate the agreement, without cause, at the end of the initial term or any renewal term by giving  written notice of such  termination not less than ____ (___)  days prior to the end of such term.
c.   The  agreement  may be terminated  immediately  upon written  notice as follows:
(i)  By mutual, written agreement of the parties.
(ii) Material breach not cured for a period of ____ days after notice.
(iii)Either party files bankruptcy, becomes insolvent or makes a general assignment for the benefit of creditors.

IN WITNESS WHEREOF, this being the agreement between the parties, we hereby execute this Letter of Intent.

ABC
______________________
Signature

XYZ
______________________
Signature





Number of Pages6
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#43603
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.














Letter of Intent to License Technology












This Packet Includes:
1.  General Information
2.  Instructions and Checklist
3.  Letter of Intent to License Technology











General Information
Letter of Intent to License Technology

This Letter of Intent to License Technology sets forth an agreement between two parties who agree to license technology.  This letter sets forth the specific technology to be licensed and the fee paid for the license.  It also sets forth the any territory restrictions, transaction closing date and any documentation which must be signed prior to closing.  

It is vital that this intent letter be succinctly set forth in writing.  A written Letter of Intent to License Technology will prove invaluable in the event there are questions or concerns by either party in reference to the license of the technology.  


  



Instructions and Checklist


Letter of Intent to License Technology

   Both parties should read the document carefully.

   Insert all requested information in the spaces provided on the form.

     The parties should read the "Financial and Contractual Terms" provision carefully.  If there are disagreements, they will likely focus on this provision.  If any of the terms are ambiguous, set forth specific examples to clear up any ambiguity.

     This form contains the basic terms and language that should be included in similar agreements.  

     Both parties must sign this letter of intent.

   Both parties should retain either an original or copy of the signed letter.

   All legal documents should be kept in a safe location such as a fireproof safe or safe deposit box.  



   





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice. The use of these materials is not a substitute for legal advice. Only an attorney can provide legal advice.  An attorney should be consulted for all serious legal matters.  No Attorney-Client relationship is created by use of these materials.  
THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 

LETTER OF INTENT TO LICENSE TECHNOLOGY

DATE:
NAME:
ADDRESS:

Dear_____________,

This letter serves as a formal agreement and  Letter  of Intent by and between ABC Inc., hereinafter  "ABC" and XYZ Corp., hereinafter "XYZ".  

The purpose of this Letter of Intent is to summarize the agreements between the parties and will have the effects of a formal agreement and work as a permanent agreement until superseded by another written agreement.  

The  contents  of this  Letter  of  Intent  are  the  product  of  previous discussions among the parties.

Objective: ABC will license its Technology to XYZ, including all pending or issued patent rights, technical knowhow, and rights to inventions made by ABC for which patents have not yet been filed. XYZ will have the right to sublicense such rights. XYZ will sponsor research at ABC to further the development of the Technology. XYZ may offer some, but not all, of the inventors the opportunity to serve on a scientific advisory board for the technology and may offer at various times consulting contracts to further its business interests.

Territory:  To be mutually agreed between the parties in writing.

Financial and Contractual Terms:
a.   XYZ will pay ABC an upfront license fee of $___ upon execution of a license agreement.
b.   XYZ will pay all future patent expenses, including filing, prosecution, and enforcement expenses.
c.   The license will terminate on a country by country basis upon the expiration date of the last to expire patent in that country.
d.   XYZ will sponsor a research and development program at ABC for an amount, including indirect costs, not to exceed $______.
e.   XYZ shall invest an additional $____ in research and development, administrative and business development of the XYZ.
f.   XYZ will pay ABC a royalty on sales of products or services covered by ABC patent rights.

Closing Conditions  Closing of the transaction contemplated in this LOI is subject to: (a) the execution of a definitive license agreement and sponsored research agreement, satisfactory in form and substance to ABC and XYZ; and (b) consummation by XYZ of the financing necessary for completion of the transaction;

Term and Termination:
a.   The initial term of the agreement shall run from ____________ through __________. Unless otherwise terminated pursuant to the terms hereof, the agreement shall automatically renew for additional ___-year periods.
b.   Either party, ABC or XYZ, may terminate the agreement, without cause, at the end of the initial term or any renewal term by giving  written notice of such  termination not less than ____ (___)  days prior to the end of such term.
c.   The  agreement  may be terminated  immediately  upon written  notice as follows:
(i)  By mutual, written agreement of the parties.
(ii) Material breach not cured for a period of ____ days after notice.
(iii)Either party files bankruptcy, becomes insolvent or makes a general assignment for the benefit of creditors.

IN WITNESS WHEREOF, this being the agreement between the parties, we hereby execute this Letter of Intent.

ABC
______________________
Signature

XYZ
______________________
Signature





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